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Saturday, February 3, 2018

Zinox acquires Konga in Landmark Industry deal

Zinox Group, one of Africa’s biggest technology group has acquired e-commerce platform, Konga.com which remains one of the biggest players in the sector; KOS-Express, the world class logistics arm of the business and KongaPay, the company’s integrated mobile money payment channel with over 100,000 subscribers.

The landmark deal approved by Securities and Exchange Commission (SEC), is expected to raise the profile of e-commerce in the country.
Industry analysts estimate that the acquisition could lead to the integration of Konga and Yudala, which is owned by Chairman Zinox Group, Mr. Leo Stan Ekeh’s son, to wade off competition and make it one of biggest e-Commerce companies in Africa.
Head of Corporate Communications, Zinox Group, Mr. Gideon Ayogu confirmed the development, said;

“Konga is a world-class, professionally-run company whose landmark strides in the sector has gone a long way in ushering millions of Nigerians into the ease and convenience of online shopping and boosting the conduct of e-commerce in the country.”

He added: “Today, many Nigerians can attribute their first experience of e-commerce to Konga.com and we are excited to be a part of this remarkable story.

“Many shoppers can also attest to the speed and efficiency in delivery that characterizes Kos-Express, the company’s logistics arm, which is arguably the best in the sector at the moment.

“Our ambition is to up the tempo by revolutionising e-commerce on the African continent, with Konga at the fore-front of this initiative. In addition to positioning the business on a path of profitability in the short term, our long term plans are focused around seeing Konga well established in other African capitals.

“Furthermore, we will be unveiling a lot of new initiatives soon and we advise shoppers and merchants alike to look out for these innovations which will radically reshape the average customer experience of e-commerce in Nigeria and on the continent.”